A few signals prompted me to buy yesterday. Hammer formation and MACD crossing shortly
I like the hammer formation which seems to be reinforced by the SP closing at 20c most days reinforcing a new nice bottom perhaps
View attachment 1353059Hammer ConfirmationThe true confirmation of the hammer candle can only be made when the very next proceeding candle closes with a higher low than the hammer candle. This confirms the capitulation from sellers, as buyers have determined the price is too attractive to pass up and quickly buy into the position. When the proceeding candles continue to consecutively form higher lows, it indicates that the buyers are now supporting the
pullbacks and
bidding up shares. As the price rises higher, it can also cause earlier sellers to reconsider and buy back into the stock or other financial instrument.
